please help Mom of 3/Roni

Discussion in 'Credit Talk' started by alice, Jan 11, 2001.

  1. alice

    alice Guest

    here is my report please take a look and tell me if i'm screwed. been trying to get things cleaned up don't know what to do next!
    Ford Credit current was 30days- Litton current was 60days--Collection paid 7-1998
    Providan charge off $723.--United Consumers charge off 9-2000 $110.
    Sears open never late 9/2000
  2. alice

    alice Guest

    also alot of inquries
  3. sam

    sam Well-Known Member

    Sorry, thats really bad :)
  4. Momof3

    Momof3 Well-Known Member

    These items will hurt your scores very much. Your 2 lates accounts, were these one time things? Were they legtimate lates or do you not receive the bill or was it posted lates? How long have you had these accounts and aside from those 2 lates have you always been current, if so you could ask for them to consider removing them, never hurts to ask. The paid collection from 1998, have you tried to dispute it, some creditors won't verify if already paid, but some do verify as well, what amount was this and to whom? The Providian is not paid off?? If not you may try to offer a settlement in exchange for deletion and also try this with United consumers, but sometimes this also does not work, but it can't hurt to try. Many here have sample letters that we can share. If you offer a settlement make sure you get it in writing before paying it.

  5. roni

    roni Well-Known Member

    Hi Alice,
    To summarize, you have :

    1)1-30 day late, now current
    2)1-60 day late, now current
    3)Collection- Paid 7/1998
    4)Providian - charge off $723
    5)UC charge off $110 9/2000
    6)Sears -Open never late 9/2000

    The negative info is new and will keep you from getting credit for a long while. You are lucky to get the Sears account. You will have to pay the charge offs. What exactly are you trying to do with your credit. If you are trying to clean this up, the first thing you have to do is 1) Buy a Credit repair book and start disputing the late payments. They may get deleted. You may have to try this several times over the next several years. Buy you have nothing but time, 7 years infact. 2 late, 1 collection and 2 charge offs is not that bad. You could probably explain this to a mortgage broker after 2 years.

    You also have to start establishing new credit accounts. You only have sears and that is not gonna do it. I would apply for several (4) secured and unsecured cards in one month and then not apply any more for 1 whole year. You need to stop with the inquiries. No one is gonna give you a prime or even subprime card with recent and outstanding charge offs. Once you pay the charge offs you can get some borderline cards at decent rates. I suggest paying them because they are so low in amount. Citibank and Chase have proven at this board that they will give credit to those with paid collections which have been paid for about a year. Any questions? Good Luck.

  6. roni

    roni Well-Known Member


    some may suggestion negotiating deletion for payment, but I have read the Providian doesnot like to negotiate once you screw them. You may try that route, but I strong suggest you start reestablishing your credit immediatly. Do you now so that the inquiries can age as the credit grows.

  7. alice

    alice Guest

    RE: also

    thanks alot for all your help i was lost
    any suggestion on what book to buy
  8. Kelly

    Kelly Well-Known Member

    RE: also

    Guaranteed Credit. Goldstein

    Try or the library. sample letters galore


    Guerrilla guide to credit repair, Bierman

    and of course lots of free info at

  9. roni

    roni Well-Known Member

    I agree.

    I have guaranteed credit. It is out dated though. I was from 1995/96 and doesnot have the revised FCRA in it. So you have to overlook some information. BUT THE FORM LETTERS ARE THE BOMB! It got me started. Then I used websites like this one for tips. Carreons is my other suggestion

  10. alice

    alice Guest

    RE: also

    Thanks so much for your help now i will see what i can do.

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